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What to do if you face eviction or can't pay your rent due to COVID-19

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What to do if you face eviction or can't pay your rent due to COVID-19

Note: This information is from Investopedia  written by 
By JIM PROBASCO 

What if losing a job, even temporarily, means you need rent relief or you can't pay your rent? As more and more states impose lock downs or stay-at-home orders to prevent spread of COVID-19, renters, who are among the most vulnerable when it comes to housing security, wonder what relief they could have to help pay the rent or avoid eviction.

Programs for homeowners that prevent foreclosure and provide mortgage payment relief are available from the federal government, states, municipalities, and private lenders. Now, the same help is ramping up for renters. Here's what's available, how it works, and how to get help.

 

KEY TAKEAWAYS

  • Several federal, state, and local programs have suspended COVID-19-related evictions for anywhere from 30 to 90 days.
  • Rent forbearance is available through some of the same programs that have suspended evictions.
  • Additional rent assistance is offered by various social service agencies as well as state and local programs.
  • Pending legislation in the form of a $2 trillion stimulus bill may offer indirect help via $1,200 checks to many adult U.S. citizens.
Links:
Article link:
How the Coronavirus Stimulus Bills Affect You
How to Get Mortgage Relief
 

FHFA Freddie Mac/Fannie Mae Rent Relief

A nationwide relief plan for up to 4 million apartment renters across more than 27,000 properties, announced by Freddie Mac and Fannie Mae in cooperation with the Federal Housing Finance Agency (FHFA), lets landlords whose properties are financed with a Freddie Mac or Fannie Mae Multifamily loan defer loan payments for 90 days.To qualify, landlords must show hardship as a consequence of COVID-19, get approval from their lenders, and agree not to evict any tenant solely on the basis of non-payment of rent during this 90-day period. Landlords must contact their loan servicer to apply. Tenants should contact their landlord to find out what they need to do.1 2
Fannie Mae Disaster Response NetworkFannie Mae's Disaster Response Network has published a guide for renters affected by the coronavirus (COVID-19). Through the network, HUD-approved housing advisors provide:

  • Personalized recovery assessment and action plan
  • Help working with your housing situation
  • Financial coaching and budgeting
  • Access to Clearpoint’s* Project Porchlight Online tools and resources
  • Ongoing check-ins to help ensure a successful recovery

Call 877-542-9723 to access the Disaster Response Network.

State By State

Many states have taken action to pause or suspend renter evictions, at least temporarily. The table below lists those states that have halted evictions and the date or time period the suspension ends if known. The list will be updated as it changes.

STATES HALTING EVICTIONS END DATE IF ANNOUNCED
California May 31, 2020
Connecticut March 27, 2020
Delaware April 16, 2020
Illinois April 7, 2020.
Indiana End of emergency
Iowa April 16, 2020
Kansas May 1, 2020
Kentucky No end date
Louisiana No end date
Maine May 1, 2020
Maryland End of emergency
Massachusetts No end date
Michigan April 17, 2020
New Hampshire No end date
New Jersey May 18, 2020
New York June 24, 2020
North Carolina April 13, 2020
Pennsylvania April 3, 2020
Rhode Island April 19, 2020
South Carolina No end date
Tennessee No end date
Texas April 19, 2020
Virginia April 6, 2020
Washington April 18, 2020
Washington D.C. No end date
 

Source: Millionacres, as of Mar. 24, 20207


Cities and Counties Also Offer Help

Even in states where a statewide moratorium on evictions or help with rent is not available many cities and counties have programs of their own. Check local and state government websites for information about COVID-19 related eviction moratoriums, rent forbearance or rent assistance.

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